Tax firms help you from getting into trouble with the law by getting you out of tax debts and by helping you cut down from heavy amounts of tax penalties. Most Americans have not been paying taxes ever since the global meltdown happened. As a result, many of them are now facing serious tax charges in the courts. Only lawyers, especially those who practice in tax law firms, and specialize in the field of taxation will be able to help get them out of this rut. Because taxation is one of the popular specialized fields in law, there are many tax law firms who are constantly vying for the attention of clients. There are different kinds of tax law firms, however, which can be a simple tax law firm or a certified public accountant firm, or it may even be a hybrid of the first two.
A simple law firm specializing in taxes is composed of lawyers with paralegal staff who work as assistants to these lawyers. The lawyers are those who have the power to practice tax law and the primary responsibility to handle tax cases for an individual or a company. They are the persons authorized to represent a client in court cases. All tax lawyers who work in a firm abide to common ethical rules of the association.
A CPA firm, on the other hand, is an association that generally employs licensed accountants, with a few lawyers mixed in as well. These accountants take note of your tax information and help you reduce your tax liability. These firms are less expensive compared to a law firm notwithstanding the fact that both environments are similar.
The third firm, the hybrid firm, is one that is neither a simple tax law firm nor a CPA firm. This firm generally employs a healthy mix of professionals from both fields, which includes even an enrolled agent. An enrolled agent is certified by the Internal Revenue Service to practice before them. This firm is the less expensive than the two but is highly unregulated.
These three kinds of firms are serious as well as important structures of our society. Because they can help you with your tax problems, choosing the right firm that best suits your needs will be important. A hybrid firm, though it may cost less than the simple tax law firm or the CPA firm provides for less professional practice in this field. Your needs, taking into consideration also your budget, will help you decide which firm to choose.